REG - MJ Hudson Group PLC - Results of Extraordinary General Meeting

MJ HudsonAnnouncement

04/05/2023 07:00

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RNS Number : 3458Y  MJ Hudson Group PLC  04 May 2023

4 May 2023

MJ Hudson Group Plc

 

("MJH" or the "Company")

 

Results of Extraordinary General Meeting

 

MJ Hudson Group plc (AIM: MJH), announces that all three of the resolutions
("Resolutions") put to shareholders at the Company's General Meeting held
yesterday were duly passed.

 

The votes received in respect of each of the Resolutions were as follows:

 

 Resolution                                                                     For          %      Against    %

 1 - To approve the disposal of the Data & Analytics (which includes the        139,490,897  97.87  3,031,922  2.13
 Company's Investment Advisory business) and Business Outsourcing Divisions
 (the "Disposal")

 2 - To approve the cancellation of the admission of the Ordinary Shares to     139,312,904  97.59  3,435,140  2.41
 trading on AIM (the "Cancellation")

 3 - To approve certain amendments to the articles of association of MJ Hudson  139,419,488  97.84  3,082,351  2.16
 Group plc

 

Resolution 1 was proposed as an ordinary resolution. This means that, for this
resolution to be passed, more than half of the votes cast (whether in person
or by proxy) had to be in favour of such resolution.

 

Resolution 2 was proposed as a 'shareholder consent' resolution and, under the
requirements of the AIM Rule 41 and article 52.2 of the Company's articles of
association, this means that for this resolution to be passed, 75 per cent. or
more of the votes cast had to be in favour of such resolution.

 

Resolution 3 was proposed as a special resolution which means that for this
resolution to be passed, two thirds or more of the votes cast had to be in
favour of such resolution.

 

Following the Company's General Meeting, Mark Pattimore and Odi Lahav have
resigned as Company directors with immediate effect.

 

Following the passing of the Resolutions, the Company will continue to work to
fulfil the other conditions to completion of the Data & Analytics Sale and
it will complete following the fulfilment or waiver of the last condition.
It is expected that this will occur before the end of May.

 

The Business Outsourcing Sale is split into four separate parcels of corporate
entities, being the Guernsey parcel, the Jersey parcel, the Irish parcel and
the Luxembourg parcel. The sale of each of these parcels within the Business
Outsourcing Sale is subject to obtaining the Regulatory Consents relevant to
that parcel and the relevant regulator not imposing adverse conditions on such
Regulatory Consents.

 

The Cancellation was expected to occur one business day after completion of
the Data & Analytics Sale and so had originally been scheduled for 12 May
2023.   Given the Company now expects a short delay to completion of the
Data and Analytics Sale, the timetable for the Cancellation cannot be
finalised at this time but is expected to occur before the end of May. In
accordance with AIM Rule 41, the Company will agree such date for Cancellation
with the London Stock Exchange and update shareholders with a further
announcement.

 

To facilitate future shareholder transactions in the Company, the Company will
look to provide a matched bargain facility, although there is no guarantee
that such facility can be put in place.  Further details will be provided at
the point of the cancellation of the admission of the Company's shares to AIM
and on the Company's website.

 

 

 

For further information, please contact:

 

MJ Hudson Group plc

Geoff Miller, Executive Chairman

 

Cenkos Securities plc (Nomad and Broker)

Giles Balleny

Stephen Keys

Callum Davidson

+44 20 7397 8900

 

Buchanan (PR Adviser)

Chris Lane

Jack Devoy

+44 20 7466 5000

mjhudson@buchanan.uk.com

 

 

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